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Chevron (CVX), Eli Lilly (LLY), Colgate-Palmolive (CL) Stocks Fell After Quarterly Results

On Friday, Chevron Corporation (CVX) stock lost its -4.29% of the value declining to $85.2. The U.S. oil company posted an adjusted loss for its fourth quarter of $11 million, with reduced margins and acquisition costs. The adjusted deficit per share for the three months ended was 1 cent per share, relative to profits of $2.8 billion or $1.49 per share for the same time last year. The net loss was $665 million in total. In the year, refining and chemicals lost $338 million. The sales hit 25.25 billion dollars, up from 26.5 billion dollars. At 7 cents, the modified EPS consensus was favorable.

Eli Lilly and Company (LLY) slipped -1.02% to $207.97 despite beating earnings.  For the fourth quarter ended December 2020, the Indianapolis-based firm posted higher net income, rising by more than 41 percent to $2.12 billion, or $2.32 per share, compared to $1.5 billion and $1.64 per share a year earlier. In the year, the group’s worldwide sales for bamlanivimab, the Covid-19 treatment, totaled $871 million. Revenues grew by 22 percent to 7.44 billion dollars. According to FactSet, the consensus was $7.27 billion. After adjustments, earnings per share were $2.75, compared to $1.73 a year ago and $2.37 consensus. The company retains its outlook for 2021 and predicts an adjusted EPS of between $7.75 and $8.4, with sales ranging from $26.5 billion to $28 billion.

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Colgate-Palmolive Company (CL) dropped -1.45% to $78 on the day. The U.S. consumer goods giant posted revenue up 7.5 percent, including 8.5 percent organically, in the fourth fiscal quarter of 2020. Per-share GAAP earnings were stable at 75 cents. Adjusted EPS has risen by 5% to 77 cents. Consolidated sales were $4.32 billion. In 2021, the company expects sales to rise by 4 to 7%, organic growth by 3 to 5%, and modified margin expansion. It is predicted that modified EPS will rise by 6 to 9 percent.

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